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NetApp Stock Hits New 52-Week High (NTAP)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK (
TheStreet) --
NetApp (Nasdaq:
NTAP) hit a new 52-week high Tuesday as it is currently trading at $39.19, above its previous 52-week high of $39.15 with 622,546 shares traded as of 9:50 a.m. ET. Average volume has been 8.8 million shares over the past 30 days.

NetApp has a market cap of $13.66 billion and is part of the technology sector and computer hardware industry. Shares are up 15.1% year to date as of the close of trading on Monday.

NetApp, Inc. engages in design, manufacture, marketing, and technical support of networked storage solutions. The company supply enterprise storage and data management software, and hardware products and services. The company has a P/E ratio of 16.6, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates
NetApp as a
buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full
NetApp Ratings Report.